A day after Carlton utility Sam Docherty was confirmed to make his comeback from knee surgery following just six months out, Beveridge defended the Bulldogs' careful management of their off-contract midfielder.
Smith, who is expected to move to Geelong next season, ruptured his ACL at training in December.
As well as Collingwood forward Dan McStay who injured his knee around the same time as Smith, Docherty will return to play well before the 23-year-old.
"It's an 11-month turnaround in our medical department, that's tried and true, we make sure the player is ready, we don't want recurrence," Beveridge said on Wednesday.
"Bailey wasn't operated on by (club surgeon David Young), but we're sticking to our 11-month protocols because we want to make sure that 'Baz' is OK to have a bright future in the game.
"Maybe with Sam Docherty ... you're prepared to take a bit more of a risk at the end of your career.
"If you ask the Blues, that's probably what they're doing, and I think everyone understands that."
Smith trained with the main group during an open training session at the Whitten Oval on Wednesday, without any strapping on his legs, ahead of the Bulldogs' elimination final against Hawthorn on Friday night.
The high-profile star has completed some of his rehabilitation of his knee away from Footscray, with the backing of club hierarchy.
But one midfielder who will run out on the MCG against the Hawks is Adam Treloar.
Western Bulldogs midfielder Adam Treloar will definitely play in the elimination final. (Rob Prezioso/AAP PHOTOS)
The newly minted All-Australian has been on a modified program after picking up a calf niggle during the Bulldogs' round-24 win against GWS.
Treloar trained fully on Wednesday, albeit with his calf heavily strapped.
"Adam's a real pro, his cross-training is always in order, and I wouldn't be concerned after a long year about anything fitness-wise," Beveridge said.
"He had his calf strapped during the (Giants) game in Ballarat, but towards the end of last week he was feeling pretty good, and his powers of recuperation are pretty strong.
"We anticipate he's going to play."
Beveridge will back in the majority of the side that convincingly defeated GWS as the Bulldogs charge into finals with the best defence across the home-and-away season, combined with the No.2-ranked attack.
They have won eight of their past 10 matches, with their only defeats in that time coming at the Adelaide Oval against the two South Australian clubs.
"It's important that your players get a pat on the back for their execution," Beveridge said.
"You have philosophies and principles around your game style, how you feel like you can execute it, but ultimately it's up to the players to get it done.
"By and large, we've been pretty good for most of the year."
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